I would love to have the luxury of deciding how much to pay. I basically always go for the cheapest place that is still in a safe neighborhood and not horribly far from work. Impossible to find anything under 30%
@bluesky53842 ай бұрын
Rule 1 is to figure out how much you can afford, but another quality of life rule that I realized is that if you can pay a little more and get responsive maintenance, a roach free unit, and great amenities (a big pool is something I love in these summer months) then go for it. Better than paying less but having peace of mind affecting by lack of AC on summer or roaches all over your belongings and food.
@JewishKeto3 ай бұрын
There should be a law that keeps rent affordable or to ensure businesses have to pay a livable wage
@stretch141000Ай бұрын
Businesses will charge the anount that people are willing to pay. If they increase rent to "unlivable" levels, then people will opt to not rent there and the business will lose money with vacancies. If it's too expensive, don't move there, if everyone did that then rent prices will always be fair. It's the people that overspend on rent they can't afford that really impact others negatively.
@natashamaier5233Ай бұрын
The currency of the nation is based on the fractional reserve banking system -- so here we are, as a nation hijacked by inflation: bidenomics. And inflation is really just hidden taxes in disguise.
@caydenthompson12611 ай бұрын
Household income almost $150k. Mortgage is $1100 mo ($1800 total with taxes, insurance and HOA) We were blessed and lucky to buy a home right before covid with a 2.625% rate.
@CharlieChang11 ай бұрын
Wow that's amazing. Great housing spend percentage too
@caydenthompson12611 ай бұрын
@@CharlieChang 🙏
@dearjohn87897 ай бұрын
Who cares
@bluesky53842 ай бұрын
@@dearjohn8789Why did you care enough to comment? People like sharing their successes. You're either new to the internet or new to planet Earth.
@perezident763111 ай бұрын
400-600 a month on rent boy wouldn’t that be nice lmao
@CharlieChang11 ай бұрын
Possible if you share a cheap apartment with a lot of people 😅
@adamasimolowo82853 ай бұрын
@@johnlongcock1122 When you're single and young sharing with people is not a problem. Do it while you're young, you'll thank yourself later.
@jaedinwilliams945228 күн бұрын
@@CharlieChang doesn’t even have to be cheap lol. Just like a house. $2000/m 4 ppl $500 per person. And $2000 will buy you a pretty nice house. Depending where you live. But yea. You don’t need A LOT of ppl and it doesn’t NEED to be CHEAP lol.
@CharlieChang11 ай бұрын
How much rent do you pay and what's your household income? Let me know in the comments, I'm curious! Hope you find this video helpful - I think it's a topic that affects everyone that rents, and is likely most people's most expensive monthly expense. Have a great day! -Charlie
@CharlieChang11 ай бұрын
To get the discussion started I currently pay $3,600 for my rent, but I also pay $3,700 per month for another apartment that I use as a filming studio
@timmyjohnson119511 ай бұрын
Between the wife and I, our income is around 173k total. Our rent is 2215 a month here in Round Rock, Texas.
@youssefbelhadji257511 ай бұрын
i am making on average 8k a month as a dentist and my rent is 740 i guess im good 🤣🤣🤣
@Aaronyeip11 ай бұрын
@Charliechang I have FINALLY followed good rent rules with my new place in Hawaii. I sacrificed my usual quality living situation for financial savings and I now pay $1750/month (for a bedroom and my office) with my roommate. I take home $7200 a month or $1800 weekly on average. (Hawaii taxes suck!)
@InfiniteTony11 ай бұрын
I'm not saying lol but nice try IRS
@infini.tesimo11 ай бұрын
All this told me apartments are far out of range for the median income salary of around $36k according to the national debt clock. How people are actually making due is a mystery.
@MrWiiandPS32 ай бұрын
They’re not. Credit card debit is out of control!
@MrRuben53626 күн бұрын
I make 96K as a teacher... not sure where you’re getting 36k. Rent is only 1600 for a 2/1 here in SoCal. Easy when I have no debt and save 30% to retirement.
@rumham713011 ай бұрын
The 3x the rent for approval in a safe neighborhood is horrible when average costs for a house or apt are near 2000 or more. That means you have to make over $37 an hour. WTH!?
@ShaunSurgener11 ай бұрын
yea it can definitely be hard to get 3X a the rent especially when it's 2k. Crucial to have those roomies and focus on living as cheaply as possible, stack cash, build some passive income, and get that active income up... only way to make it now... hope you are well
@MrRuben53626 күн бұрын
Focus on buying assets like stocks and real estate. Get out of debt and stop trying to look for strangers on tik tok.
@shuffinginoblivion2 ай бұрын
Well I spent 20 years of my life working my way up to $30/hr and I can still only afford $760/month maximum in rent so I guess I don't deserve to be alive.
@Cteezy12410 ай бұрын
Why is it based on gross? Shouldn’t it be based on net?
@sb26395 ай бұрын
Yes
@ImOzify3 ай бұрын
I never understood that either. Everything online goes off of gross income. I’m aiming for 30% of of net income.
@ssing71133 ай бұрын
Because net is harder to calculate because of tax brackets. and gross can run the calculations already calculating that for you on back end. I sometimes make 300k. Sometimes 500k. Sometimes 900k a year. This chart is easier to understand for myself.
@ImOzify3 ай бұрын
@@ssing7113 God damn, good for you man. What do you do for work?
@MatthiasAI9 ай бұрын
finding something under 30% sounds like a dream in my area where bachelors start at 2050$, the 30% rule is a nice thought but is a old thought structure from over a decade ago that really just doesnt work in a lot of cities. (even greater city areas and suburbs around big cities dont get that much cheaper and at what point is the HOURS wasted traveling worth the savings?)
@PerryPerfectPerson11 ай бұрын
I have been looking for videos and yours came out just in time!
@entropy20308 күн бұрын
Dallas has a lower cost of living only compared to the most expensive cities. It is getting expensive fast
@georgeellis5165 ай бұрын
so pretty much, as a 17 year old who wants to move to LA and had completely accepted spending 60-70% of my paycheck on rent, i’m horribly wrong? idk i feel like i can live on 35%. see yall out there
@RellyMedia11 ай бұрын
Here I am having to spend over 50% of my income on rent smh
@CharlieChang11 ай бұрын
Sometimes it's the only way, I feel you
@ShaunSurgener11 ай бұрын
yea that's tough.... if you can't get a roomie, or a 2 /3 bedroom and split it then you may want to focus on increasing income ... some times you're better off figuring out how to make more than cut back (depends on the scenario)
@RellyMedia11 ай бұрын
@ShaunSurgener that's partially why I don't want to go back to the roommate situation. But for the most part I work overtime (which I rather not have to) but I agree I'm currently trying to find better paying jobs.
@ShaunSurgener11 ай бұрын
@@RellyMedia yea Roomie is tough. Yea find a higher paying position or try to find a skill you can develop or already have you could get a side hustle on your own and earn way more per hour. That’s what I did and it eventually turned into my full time thing and I make way more now.
@johnlongcock11227 ай бұрын
@@ShaunSurgenerwhy are roommates suggested so often. There are a thousand cons to the single benefit of saving money. It's not normal to share all your privacy and live with a stranger
@satellite73916 ай бұрын
Side hustle to keep up with the Jones.
@amandaw220011 ай бұрын
HHI per month is about $18,450 and we spend $3500/month on rent
@CharlieChang11 ай бұрын
Wow! Very nice percentage
@ShaunSurgener11 ай бұрын
NICE! are you in a HCOL city? that's a decent percentage
@Gypsyrose173 ай бұрын
I used to live in Newport Beach, and was priced out. I moved to Costa Mesa, and finally was again priced out. I moved here to Vegas in December of 2023. When I left Costa Mesa, my rent was 76% of my take home pay for a not so nice place. I get far more for my money here, but my rent is still over 50% of my take home pay. 🤷🏻♂️
@Someone-og1yy11 ай бұрын
I'm single (no kids) in Los Angeles. Last year I earned on average 21k p/month. This year I have been slacking and its around $16.6k per month on average. I pay $2600 p/month (includes managed utilities) for a 583 studio sq ft apartment. I am a VERY safe kind of person. I will need to bump it up to just the regular "target" of around 4k (I am aiming to spend less than your "targets" which seem high to me, when buying a condo soon (porbably will have to be a small condo etc)... Sucks living in a high COL area. I also drive a 2008 car with 100k miles on it. Don't need a new one as I earn money from home and get groceries delivered via Amazon. Don't see a point of buying a new car when I mostly stay home.
@CharlieChang11 ай бұрын
Sounds like you're crushing it!
@JeffRogers99Ай бұрын
@@CharlieChang sounds like he’s under house arrest
@MrTmenzo11 ай бұрын
Welp even renting a room is around 1k in my area 😭
@CharlieChang11 ай бұрын
Oh wow :(
@PerryPerfectPerson11 ай бұрын
AND I LIVE IN ST.LOUIS wow this video is for me!
@9770G11 ай бұрын
If I wasn’t living with my parents rn I’d be living out of my car. Fuck making other ppl rich. I’ll make that sacrifice for a few years if that’s what it takes to be able to buy a home. While everyone else my age wants to look “cool” cuz they have a apartment they are getting recked on with rent so they can go out and drink every weekend, I’ll be the smart one and put money away every month.
@CharlieChang11 ай бұрын
Good thinking! I respect the sacrifice
@sabrinawilk56938 ай бұрын
I lived with my parents until almost 26 because why move to pay over 2k in rent to someone else and not be able to save??
@9770G8 ай бұрын
@@sabrinawilk5693 yup that part
@johnlongcock11227 ай бұрын
One person having to sacrifice only to avoid the benefit of another
@YusefWakeel10 ай бұрын
Can I afford 1300 in rent on 68k income? NET income is 50k a year. No debt, single, and no kids.
@Doors067Ай бұрын
I'm making 1200 a month work on 45-50k gross. It's very tight. If you use food pantries cut cable and just chill it's doable.
@collegetoycollector4 ай бұрын
Moving to LA for work, partner and I make a combined 130k. We’re looking for rent that is 2.7k to 3k on the high end
@Werevertumoto9 ай бұрын
Why would you even rent a place if you are making 1.2 million a year? unless is temporary I gueas
@Doors067Ай бұрын
I had to choose between bring just over target to own a home or keep up with the jonses. 1200 to own taxes hoa on a 3k a month job. Lowest rent in town is 2.1k. Ones a paycheck the other would have taken both.
@TimeToSmurf11 ай бұрын
Great video idea !
@dearjohn87897 ай бұрын
Not sure where your finding a spacious two bedroom for 1000/mo in the Midwest. Maybe in Kansas or Nebraska lol. Nowhere anybody wants to live
@brettkeller11 ай бұрын
are the monthly income numbers pretax or post tax
@CharlieChang11 ай бұрын
Pre-tax!
@ShaunSurgener11 ай бұрын
most people always refer to pretax.. HOWEVER post tax is BEAST MODE lol... hope you are well.. let's build that dream!
@RapticGaming9 ай бұрын
Roughly $15k + a month household income and pay $5400 mortgage. Also have another mortgage at $2800 but being rented out for $4000 (did not include that in my income).
@johnlongcock11227 ай бұрын
$1200 profit from one rental, yuck. How do you sleep well at night. First having the greed to own two properties when you only need one then further showing greed by grossly overcharging the rent. Impacts so many people in a horrible way, just because you were born earlier than them. How special you are.
@AngelaVlahosАй бұрын
no more real estate
@kai-bo5yz2 ай бұрын
I’ve been financing my car for 3 years and I have 3 more years to go.. it does affect me with rent how do I lower it?? /:
@tasfdbyhdygsdbnjsraeАй бұрын
Holy shit, only paying 22 bucks in taxes???? I pay way more than that when i gross way less! I love getting screwed by my government :) Like when I've made that much, i'm paying HUNDREDS of dollars in taxes
@tasfdbyhdygsdbnjsraeАй бұрын
Like 30% of my gross pay is 50% of my net pay. I make $58.5k/year, but my take-home is just under $38k. Based on your chart, I should be aiming for between 1000-1500, but based on take-home it's like 600-900/month. And where I live, you're LUCKY to find a decent apartment for much less than $1300, which is just about a whole paycheque! (Alberta, Canada, one of the cheaper cost-of-living provinces compared to average wages)
@ssing71133 ай бұрын
So basically in Hawaii. People can afford a tent in the brush hiding from people off the highway 😂 Average person in Hawaii cannot afford anything then 😂😂😂
@matrixmodexp11 ай бұрын
What about for cars ?
@CharlieChang11 ай бұрын
I'll do one on this topic!
@TechGamerBb11 ай бұрын
Is m1 a good platform for a roth ira or should I use something else
@CharlieChang11 ай бұрын
Yeah it's solid! can't go wrong with M1, vanguard, charles schwab, pretty much any online brokerage
@ShaunSurgener10 ай бұрын
Traditional ones are vanguard, fidelity, Charles Schwab.. I’d recommend those … vanguard was the original creator of index funds
@AlComedyy7 ай бұрын
So if my gross income (monthly) of 3,300 and i pay rent 1165 per month will it work? Or it’s exceeding the limit there
@OneSvT6 ай бұрын
That’s pretty high
@PerryPerfectPerson11 ай бұрын
And iv looked at that exact unit! WTF!
@LeonardoPaolo-cv2qy11 ай бұрын
Okay
@himitsumonban5 ай бұрын
Your numbers make no sense my dude, what magical country do you live in where you don't have to pay taxes?
@gohome69828 ай бұрын
Monthly gross is 24k and I spend 1895/month on rent. I don’t think it’s worth spending a lot on rent.
@Stew_Pid10 ай бұрын
And that's why I stay in my rent controlled unit. $1000 a month in Hollywood, unfortunately it is in Hollywood, and makes up about 12% of my monthly income.